Chana prices up 1.8% on output fall

Analysts attributed persistent rise in chana prices at futures trade to thin supplies in the market amid reports of a lower output this year

Chana prices rose by Rs 68, or 1.81%, to Rs 3,823 per quintal in futures trade today on the back of fall in output in the current year even as the market regulator has taken a number of steps to curb excess speculative activity.

At the National Commodity Derivatives Exchange, the May contract rose Rs 68, or 1.81%, to Rs 3,823 per quintal with an open interest of 1,00,780 lots.

The April contract increased by Rs 50, or 1.38%, to Rs 3,680 per quintal with open interest of 26,880 lots.

Analysts attributed persistent rise in chana prices at futures trade to thin supplies in the market amids report of a lower output this year.

 

Meanwhile, the NCDEX has imposed 10% minimum initial margin on chana futures.